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As a real estate investor, one of the first lessons you should learn is that nobody can succeed in real estate alone. So, instead of dedicating your time and energy to becoming an independent investor, you need to learn how to become a leader and build a team of skilled real estate professionals for your investments.
When you are building a team to facilitate your investments, there are three key factors you should be looking for in everyone you agree to work with – knowledge, passion, and professionalism. If you ensure that everyone you are working alongside applies these factors in all of their work, you can trust that they will be strong members of your team.
So, if you are ready to get started and build the ideal team of real estate professionals for all of your real estate investments, here are some of the most important people for you to seek out.
Before we dive in, we can never overstate that one of the most important real estate professionals you will ever work with is a well-connected real estate broker. So, if you are looking to invest, we invite you the click the link below to learn more today.
When you are entering the world of real estate, your realtor is your guide through the market and without them you are essentially flying blind. While you are certainly capable of finding and completing real estate deals without a realtor, the expertise your realtor can offer you is invaluable and can make the process go by much smoother.
For example, regardless of how keen your eye may be for finding in-demand properties that could make for incredibly popular rentals, your realtor will have access to up-to-date market stats that will indicate whether you are going to be paying a fair price for the property or if the property is currently listed higher than it should be due to the increased demand.
As well, a knowledgeable realtor should be able to suggest and refer you to a variety of real estate professionals that they trust in order to help you expand your team.
Well-Connected Mortgage Agent
While most homebuyers settle for simply going to their own bank for their mortgages, skilled investors know that in order to truly experience the full flexibility needed in order to build meaningful investments, the real estate professional you need to work with is a well-connected mortgage agent who can match you up with the best lenders for each of your individual investments and mortgages.
In the spirit of full disclosure, I started LendCity Mortgages with the goal to ensure that real estate investors like you can achieve their goals and get the best available rates for each of their investments with no hassle. That is why we work with a wide network of experienced lenders, each with their own specialties so that you can get the mortgage product that is best suited to each investment.
Discover How To Buy Unlimited Rental Properties With This Step By Step Guide
Skilled Contractors and Trades Workers
Over the course of your investment career, you are going to need to make renovations and improvements to your properties in order to keep up with the market and ensure that your properties are well maintained. So, in order to do this, you are going to want to have real estate professionals such as contractors and trades workers that you know and trust to tackle any job that may arise.
These should be licensed real estate professionals who offer top-quality service for a reasonable price. Many investors make the mistake for strictly finding the lowest price at first and wind up needing to hire new contractors to come in and fix the job or hiring unlicensed workers who may wind up causing problems later on if they are caught doing the work while being unlicensed.
Organized Bookkeepers and Accountants
Much like any other sort of investment, real estate is a large financial undertaking with many considerations. Not only will you need to organize and report all of your income from your investments in order to properly pay your taxes, but you will also need to be able to track and manage any wages paid to team members or potential write-offs that you pay for each year.
As a result, it is essential that you work with a bookkeeper or accountant who is an experienced real estate professional so that you do not accidentally get your finances mixed up and wind up in trouble later on when you attempt to buy more property or file your taxes each year.
Reliable Insurance Agents
In real estate it is important that you take the steps to properly protect and secure yourself, your tenants, and your investments. This means you are going to need insurance. Finding a real estate professional like a reliable insurance agent who can help you obtain the right insurance policies for each aspect of your investments as well as your personal life is incredibly important. As well, in many cases your insurance company may be able to bundle different types of insurance in order to lower your monthly premiums and simplify your payments.
Professional Property Managers
Finally, one of the most important real estate professionals you need to have on your team is a professional property manager or a property management company. As your portfolio grows, you will not have the time to manage every single property you own and address the needs of each individual tenant yourself. That is where property managers come into play. By tackling the day-to-day management of your real estate investments, your property manager buys you time to live your life whether that is through another career or exploring other opportunities in order to become more fulfilled in life.
An ideal property manager should have dedicated plans and strategies for tenant screening, communication, scheduling maintenance and inspections, and responding to emergencies. Take your time hiring a property manager so that you know you will find someone you can trust, otherwise you risk the long-term success of your portfolio.
Get Started Today with The Best Real Estate Professionals
If you are ready to invest today, get started with a pre-approval for your next investment property at LendCity. Our agents are ready to help you lock down the best available interest rate and the highest available financing so that you can plan your investments wisely.